News Local Revenue from tourism up 2.7% in 2018

Revenue from tourism up 2.7% in 2018

Revenue from tourism in Cyprus rose to a new high in 2018 according to figures published by the Statistical Service of Cyprus on Friday.

For the period of January – December 2018 revenue from tourism is estimated at €2.7106 b compared to €2.6391 b in the corresponding period of 2017, recording an increase of 2.7%.

However, expenditure per person fell by 4.8% to €688.22 compared to €722.62 in the corresponding period of the previous year, recording a decrease of 4.8%. The expenditure per person/per day for the period of January – December 2018 compared to the period of January – December 2017 also recorded a decrease of 1.7% (from €76.07 to €74.81).

On the basis of the results of the Passenger Survey, revenue from tourism in November 2018 reached €91.9 m, recording an increase of 2.7% compared to the corresponding month of the previous year, while in December 2018 revenue from tourism reached €56.4 m recording an increase of 1.1% as compared to December 2017.

The expenditure per person for November 2018 reached €579.35, presenting a decrease of 6.4% compared to November 2017, and for December 2018 to €528.95, also presenting a decrease of 6.2% as compared to December 2017.

A decrease was also recorded in the average length of stay with corresponding rates of 11.3% and 8.8% for November and for December 2018 in relation to November and December 2017. The expenditure per person/per day increased by 5,6% for November 2018 and by 2,8% for December 2018.

(Cyprus News Agency)

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